Meta stock rockets 10% on price target increase, Muse AI downloads

Meta (META) stock rose more than 10% in intraday trading after Wells Fargo raised its price target on the company, and its Meta Muse AI agent app hit the top spot on Apple's App Store. In a note to investors, Ken Gawrelski raised his price target on the company from $640 to $796. Gawrelski pointed to Meta's recent successful AI model launches, including its latest Muse Spark offering and the Muse assistant, as proof that the company "now has a story to tell" with regard to its AI capabilities and services. Meta's AI fortunes mark a sharp turnaround from last year, when the company was dealing with AI model delays and questions about the billions it is spending on its AI infrastructure buildout. (META ) Go deeper with AlphaSpace 742.00 +76.78 (+11.